National Bank of Canada – Loss of Personal Information – National Class Action Settlement

Date of Initial Application: October 6, 2008

SETTLEMENT COMPLETE AND FILE CLOSED

NATIONAL BANK OF CANADA

Re: Settlement regarding the laptop computer stolen in 2008

A settlement agreement was concluded and approved by Madam Justice Guylène Beaugé of the Superior Court of Quebec on August 1, 2012 (the “Agreement“) regarding the following class action brought against the National Bank of Canada (hereinafter “NBC“) :

  • Larose and Paquette v. National Bank of Canada, 500-06-000452-082, Superior Court of Quebec, district of Montreal, 

on their own behalf and on behalf of the class defined as follows:

The Class consists of all the persons (including their estates, executors, or personal representatives), consumers, corporations having no more than 50 persons under an employment contract, firms, businesses, and other organizations in all of Canada, whose personal information was saved or stored on the hard disk of a laptop computer stolen from the premises of NBC on or about September 19, 2008.

The Class excludes i) NBC, ii) any entity in which NBC holds a majority interest, iii) NBC’s legal representatives, successors and assigns iv) and all Persons who have opted out of the Class in accordance with the Notice of Preapproval.

SUMMARY:

NBC agreed and set up a claims settlement process for a period of ninety (90) days (which has now expired).

The following persons were eligible to benefit from the settlement:

  • anyone who, as of September 19, 2008, held or had held a mortgage with NBC; and
  • whose personal information was saved or stored on the hard disk of the laptop computer stolen on or about September 19, 2008; and
  • who suffered a documented monetary loss as a result of the unauthorized use of the said personal information.

As additional measures, NBC also agreed to make (and indeed made) the following donations:

a)    $25,000 to the Fondation du Centre Jeunesse de Montréal;

b)    $60,000 to the Jewish General Hospital Foundation of Montreal.

NBC also paid the plaintiffs, Steve Larose and Jocelyne Paquette, the amount of $1,500 each as an indemnity for the costs incurred by them and their efforts on behalf of the Class Members as plaintiffs in the litigation.

This file is now settled and closed.